PRESS RELEASE - MAY 16, 2007

PRESS RELEASE FOR IMMEDIATE RELEASE

HARRIS & HARRIS GROUP, INC. (R) MAY 16, 2007
111 WEST 57th STREET, SUITE 1100
NEW YORK, NEW YORK 10019 CONTACT: CHARLES E. HARRIS

NASDAQ/NMS SYMBOL: TINY TEL. NO. (212) 582-0900


HARRIS & HARRIS GROUP PRESIDENT EXERCISES STOCK OPTIONS


Harris & Harris Group, Inc. (the "Company") announced today
that Douglas W. Jamison, President, Chief Operating Officer and
Chief Financial Officer of Harris & Harris Group, Inc.,
exercised stock options today that would have expired on June
26, 2016, to purchase 3,000 shares of Harris & Harris Group
stock. With this purchase, Mr. Jamison increased his ownership
of the Company's shares, from 15,256 shares to 18,256 shares.

For more information, please see the Form 4 that will be
filed shortly with the Securities and Exchange Commission.

Harris & Harris Group is a publicly traded venture capital
company that makes initial investments exclusively in tiny
technology, including nanotechnology, microsystems and
microelectromechanical systems (MEMS). The Company's last 33
initial private equity investments have been in tiny technology-
enabled companies. The Company has 21,735,884 shares of common
stock outstanding.

Detailed information about Harris & Harris Group and its
holdings can be found on its website at www.TinyTechVC.com.






This press release may contain statements of a forward-looking
nature relating to future events. These forward-looking
statements are subject to the inherent uncertainties in
predicting future results and conditions. These statements
reflect the Company's current beliefs, and a number of important
factors could cause actual results to differ materially from
those expressed in this press release. Please see the Company's
Registration Statement on Form N-2 and Annual Report on Form 10-
K for the year ended December 31, 2006, filed with the
Securities and Exchange Commission for a more detailed
discussion of the risks and uncertainties associated with the
Company's business, including but not limited to the risks and
uncertainties associated with venture capital investing and
other significant factors that could affect the Company's actual
results. Except as otherwise required by Federal securities
laws, Harris & Harris Group, Inc., undertakes no obligation to
update or revise these forward-looking statements to reflect new
events or uncertainties. The reference to the website
www.TinyTechVC.com has been provided as a convenience, and the
information contained on such website is not incorporated by
reference into this press release.